译雅馨翻译公司移动版

JIAHUA STORES HOLDINGS LIMITEDXXX Corporation
佳華百貨控股有限公司XXX公司
 (Incorporated in the Cayman Islands with limited liabilityXXX with limited liability)

Minutes of a meeting (the “Meeting”) of the board of directors of Jiahua Stores Holdings LimitedXXX (the “Company”) held at Room 302, 3/F, Hip Kwan Commercial Building, 38 Pitt Street, Yau Ma Tei,, Kowloon, Hong Kong *** on 5 August, 2008 at 3:30 p.m.

PRESENT : ***Mr. Chin Kam Cheung – Independent Non-Executive Director
  Mr. Ai Ji – Independent Non-executive Director (by conference call)

IN ATTENDANCE  : Mr. Ho Yuet Lee, Leo - Company Secretary (by conference call)
  Mr. Zhuang Pei Zhong - Chief Financial Officer (by conference call)

1. CHAIRMAN

Mr. Chin Kam Cheung *** took the chair and acted as chairman (the “Chairman”) of the Meeting.

2. NOTICE

It was noted that notice of the Meeting had been given to all the directors of the Company (the “Directors”) in accordance with the articles of  (the “Articles of Association”).  The Chairman declared the Meeting properly constituted for the transaction of business.

3. QUORUM

A quorum being present, the Chairman declared the Meeting duly convened and constituted in accordance with the Articles of Association.  A quorum had been present acting and maintained throughout the Meeting.

4. DECLARATION OF INTERESTS

It was noted that each Director had duly declared his interest (if any) in connection with the matters to be considered at the Meeting and in accordance with the Articles of Association.  It was noted that none of the Directors present was prohibited by the Articles of Association from forming part of the quorum of this Meeting or voting in respect of the matters to be considered at this Meeting.

5. SHARE OPTION SCHEME

The Chairman referred to the share option scheme of the Company (the “Share Option Scheme”) which was adopted and approved by the shareholders of the Company (the “Shareholders”) pursuant to the written resolutions of all Shareholders dated 30 April 2007 (the “Written Resolutions”).

There were tabled before the Meeting the following documents:

(1) a copy of the Share Option Scheme;

(2) a copy of the Written Resolutions;

(3) a copy of the Listing Approval dated 18 May 2007 in which The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) approved, on a conditional basis, the listing of and permission to deal in any new shares to be issued upon exercise of options to be granted under the Share Option Scheme;
 
(4) a list of the persons for which options were proposed to be granted (the “Grantees”) and the respective number of the options proposed to be granted to each Grantee pursuant to the Share Option Scheme (the “List of Grantees”) marked “A” attached herewith and for the purpose of identification, signed by the Chairman; and

(5) a draft form of the letter to be issued by the Company to each of the Grantees for the grant of such number of options as set out in the List of Grantees (the “Form of Grant Letter”).

The Chairman reported that options (“Options”) in respect of a total of 9,750,000 new shares of the Company (the “Shares”) were proposed to be granted to the Grantees and that the Subscription Price (as defined in the Share Option Scheme) at which the options were proposed to be granted to the Grantees should be (i) HK$0.4560, representing the average closing price of the Shares as stated in the daily quotations sheets of the Stock Exchange for the five trading days immediately preceding the date of this Meeting; or (ii) the closing price of the Shares as stated in the daily quotations sheet of the Stock Exchange on the date of this Meeting, whichever is higher (the “Price”), and that the Option Period (as defined in the Share Option Scheme) was proposed to be from 9 August 2008 to 8 August 2013.

 IT WAS RESOLVED THAT:-

(a) the grant of the Options to the Grantees under the Share Option Scheme to subscribe for the respective numbers of Shares as set out in the List of Grantees at the Price and for the Option Period from 9 August 2008 to 8 August 2013 be and is hereby approved;

(b) the Form of Grant Letter be and is hereby approved and adopted, and that any Director be and is hereby authorized to approve any further amendments thereto and to sign the same for and on behalf of the Company;

(c) the secretary of the Company be and is hereby authorized to despatch to each Grantee the relevant Form of Grant Letter as signed by the Director; and

(d) any Director of the Company be and is hereby authorized to do all such acts and things as he shall in his absolute discretion consider necessary or desirable to give effect to the resolutions referred to above.

6. CLOSE OF MEETING

There being no other business, the Chairman declared the Meeting closed.

___________________
 (Chairman)

佳华百货控股有限公司
（于开曼群岛XXX注册成立的有限公司）

佳华百货XXX董事会于2008年8月5日下午3点半在香港九龙油麻地碧街38号协群商业大厦3楼302室***召开一次董事会议，会议记录如下：

出席：    ***  Chin Kam Cheung先生—— 独立非执行董事
            Ai Ji先生——独立非执行董事（会上称）

参加出席：  Ho Yuet Lee, Leo先生——公司秘书长（会上称）
            Zhuang Pei Zhong先生——财政部长（会上称）

1. 董事长
   Chin Kam Cheung ***先生作为会议主席主持了会议。

2. 通知
   根据公司章程，会议通知传达给了公司的所有董事。董事长声明是为了商事交易召开此次会议。

3. 法定人数
   达到法定出席人数后，董事长宣布会议正式按照公司章程召开。全部法定人数都出席了会议，直至会议结束。

4. 汇报利润
   根据公司章程，每位董事都汇报了与这次会议讨论内容相关的利润情况。公司章程并未限制任何董事组成会议讨论组或者针对会议讨论内容发言。

5.股权计划
   大会主席提到了公司的股权计划。依照2007年4月30日股东们的的书面决议，这一方案经股东认可并采用。
  
   会议前摆放好了以下文件：
   （1）   一份股权计划的复印件；
   （2）   一份书面协议的复印件；
   （3）   一份2007年5月18日核准清单的复印件，经香港证券交易所认可，在一定条件基础上，行使股权时允许进行其他发行股份的交易活动；
   （4）   一份被授予选择权的人员名单以及依照股权计划拟定的各自编号。以下在旁边注明“A”便于辨认，由大会主席注明；
   （5）   公司拟定的一份草案，发给持有购股函件所规定的购股权数目的每位股权人。

大会主席称，公司有975万的新股将会派发给股权人，股权计划规定的认购价格为每股港币0.4560元，这一价格是会议头天之前每天交易报价单的平均收盘价。会议当天每张报价单上的收盘价都要高一些，股权计划规定的股权仅限于2008年8月9日至2013年8月8日。

   会议决议：
（a） 按照股权计划，股权人可认购相应购股权数目，股权仅限于2008年8月9日至2013年8月8日；
（b） 购股函通过批准并予以采用，任何董事都有权对其做出修改以及代表公司同样具有签字权力；
（c） 公司秘书长有权向各股权人派发由董事签发的相关信件；
（d） 公司所有董事有权酌情对上述协议做必要的合理改动。

6.闭会

无其他事务，大会主席宣布会议闭幕。
                                                   ___________________
                                                          （大会主席）